Nigeria’s social welfare in ignominious state, says Economic Society

By Obas Esiedesa, Abuja

The Nigerian Economic Society (NES) on Tuesday described the state of Nigeria’s social welfare as ignominious, noting that 133 million citizens currently suffer deprivations across education, health, and living standards.

Speaking in Abuja ahead of the society’s 66th Annual Conference scheduled for next week, NES President, Prof. Adeola Adenikinju, stressed that beyond macroeconomic indices, the sheer number of Nigerians trapped in multidimensional poverty underscores the fact that socio-economic development is multi-sectoral and cumulative.

Adenikinju acknowledged steady macroeconomic growth and improved resilience from reforms introduced by the Federal Government but insisted that such reforms must be sustained to yield real economic gains for Nigeria’s nearly 40 million micro, small, and medium enterprises (MSMEs) and households.

He said: “Such policy reforms have produced encouraging signals. For instance, official data indicate that headline inflation eased in July 2025 relative to previous months. While this is not a victory lap as inflation in the country remains high relative to comfort – and the gains have not been felt evenly by households – it is nevertheless an indicator of what is possible when well-designed fiscal and monetary policies are implemented. That path must be sustained, broadened, and translated into real-economic gains for MSMEs and households.”

The NES President, however, emphasized that the country cannot ignore the harsh realities confronting millions of citizens.

“At the same time, we cannot ignore the glaring facts about the ignominious state of social welfare. Nigeria’s Multidimensional Poverty Index, last measured in 2022, identified roughly 133 million Nigerians experiencing deprivations across education, health, and living standards,” he said.

According to him, true growth cannot be measured by GDP figures alone but by citizens’ dignity, access to basic services, and opportunities to thrive.

“Socio-economic development depends on healthcare that is reliable and affordable, educational systems that build human capital, secure communities, and functioning food systems. Hence, social inclusion is not optional. When 133 million Nigerians face multiple deprivations, growth must be measured not only by GDP but by dignity, opportunity, and access to basic services,” Adenikinju added.

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